Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US East Coast and Houston collection prices for ferrous scrap remained rangebound, though trending downward this week on healthy scrap supply. Docks are also facing sustained export weakness and see falling prices for latest export bookings. 


Market participants near the East Coast have noticed several dealer yards have been receiving higher volumes of intake material compared to the volume of scrap they are able to move outbound. Many sellers feel this may continue through the summer months.


Dockside sales for #1 HMS on the East Coast still range between $365-395/gt based on dock location and base price from prior sales. Market participants witnessed price decay of about $5/gt last week on the East Coast and anticipate further decay of $5-10/gt over the next week.


The Davis Index for US HMS 1&2 (80:20) exports to Turkey have gradually ticked below $500/mt cfr recently. On Tuesday, the index for the grade is at $484.89/mt cfr compared to $500.82/mt cfr last week on July 6. Looking at a monthly view, the grade is down $18.59/mt compared to 503.48/mt cfr for the export grade on Jun 15. 


In Boston, prices have remained untouched for a few weeks and are still under surrounding docks. The weekly Davis Index for export yard #1 HMS is flat at $378/gt, P&S 5ft remains at $389/gt delivered Boston dock. The shredder feed index stayed at $270/gt delivered Boston export yard. 


The weekly Davis Index for export yard buying prices in New York fell $2/gt for #1 HMS to $390/gt delivered, P&S 5ft dropped $3/gt to $400/gt, and shredder feed moved down $6/gt to $287/gt delivered New York dock. 


In Philadelphia, the Davis Index for export yard collection prices moved down $2/gt for #1 HMS to $389/gt delivered and P&S 5ft fell $3/gt to $398/gt delivered Philadelphia dock. The index for shredder feed fell by $7/gt to $288/gt delivered. 


In Houston, the weekly Davis Index increased $6/gt for #1 HMS to $424/gt delivered, P&S 5ft stayed flat at $451/gt and shredder feed also remained unchanged at $335/gt delivered Houston dock. The index shows upticks for #1HMS, based on latest sales, but no increase announcements were made. Overall flows continue moving at rangebound prices between $415-430/gt.

Leave a Reply

Your email address will not be published.